Economy News
The Daily Signal reports on economy news with analysis and commentary on growth, recession risks, employment, and financial trends.
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news
Trump Fires BLS Chief Over Job Data ‘Tampering’ as Hassett Calls for Fresh Leadership
When confronted with July’s unexpectedly small job gain, National Economic Council Director Kevin Hassett questioned the job report’s accuracy and called for “a fresh set of eyes” at the Bureau of Labor Statistics. Friday’s report also included a sizable downgrade in the number of jobs created in May and June from original estimates. “The fact… -
news
Jaguar CEO to Retire Following Last Year’s Ad Controversy
The Jaguar CEO recently resigned in the wake of a controversial ad campaign the luxury car company released months ago in an effort to rebrand as “woke.” After spending three years as CEO and three decades total with Jaguar Land Rover, Adrian Mardell will officially retire on Dec. 31, the company announced Thursday. This comes… -
news
‘Make America Fish Again’ Campaign Urges Policy Review
THE CENTER SQUARE—Charter captains, commercial fishermen and recreational fishing advocates launched a national campaign this week urging President Donald Trump to issue an executive order restricting foreign industrial fishing in U.S. waters. The campaign calls for new protections to defend American jobs, marine ecosystems and the future of coastal communities. The campaign, titled “Make America Fish… -
opinion
Experts Were Wrong. The Economy’s Strong—But the Fed Won’t Budge.
Editor’s note: This is a lightly edited transcript of today’s video from Daily Signal Senior Contributor Victor Davis Hanson. Subscribe to our YouTube channel to see more of his videos. I’d like to talk about the economy here at the beginning of August. We’ve just finished July. We have some of the July reports, but mostly,… -
news
Trump Takes Aim at China With New Tariff
The Trump administration has announced a new 40% tariff on transshipments in a move seemingly targeting China. Transshipments are indirect shipments through other nations and often involve the transfer of goods from one vessel to another. China has developed a large global shipping network, so while the tariff on transshipments will affect all countries… -
opinion
Making Automobiles Great Again
In all the hoopla about the One Big Beautiful Bill, one provision went completely overlooked—but that provision is now primed to usher in the rebirth of the great American car. But first, a little history. Back in 1975, in a panic over the Arab oil embargo and phony predictions that the world was running out… -
news
Fed Chief Powell Announces He Won’t Cut Interest Rates
Federal Reserve Chairman Jerome Powell announced Wednesday that the Fed will not be cutting interest rates for the time being, shortly after receiving a quarterly report on the U.S. economy. President Donald Trump has sought to pressure Powell for months to let more cash flow into the economy, arguing that inflation is low enough to… -
news
EXCLUSIVE: 1,500 Truck Drivers Taken Out of Service for Poor English Following Transportation Department Directive
FIRST ON THE DAILY SIGNAL—Following new guidelines from Transportation Secretary Sean Duffy to enforce English language proficiency for commercial truck drivers, 1,500 drivers have had their licenses placed out of service by law enforcement, The Daily Signal has learned. “‘America First’ means safety first. Americans are a lot safer on roads alongside truckers who can… -
opinion
Trump’s Trade Lesson for Economists (and the World)
If America is in a trade war, the question to ask is, are we tired of winning yet? “Donald Trump reaps $50bn tariff haul as world ‘chickens out,’” reads the Financial Times headline. “Only China and Canada have retaliated against U.S. president’s tariff war,” the Financial Times’ subhead adds. “In the Trump-dominated global economy, the… -
news
Unlikely Duo Wins Senate Panel’s Unanimous OK on Housing Bill
Can Congress make housing more affordable? That’s the question that a new, bipartisan bill seeks to answer. The legislation was passed unanimously out of the Senate Banking, Housing, and Urban Affairs Committee on Tuesday by a vote of 24-0. The legislation, co-sponsored by an unlikely duo, Sens. Tim Scott, R-S.C., and Elizabeth Warren, D-Mass., hopes… -
news
Lutnick Confirms Tariffs Deadline Will Not Be Extended
Secretary of Commerce Howard Lutnick confirmed on “Fox News Sunday” that there will be no more “grace periods” come the Aug. 1 tariffs deadline. President Donald Trump‘s tariffs are set to take kick in Friday, when “customs will start collecting the money,” Lutnick said. “Obviously, after August 1st, people can still talk to President Trump…. -
opinion
Food Stamp Reforms in One Big Beautiful Bill Act Promote Upward Mobility
Means-tested welfare is the third-largest segment of federal spending, only outranked by Social Security and Medicare. The U.S. welfare system has been growing for decades, with little to show when it comes to helping lower-income Americans achieve upward mobility. In the recent One Big Beautiful Bill Act, however, Congress made some promising reforms to one… -
news
EXCLUSIVE: Trump Transportation Department Reforms Biden ‘Climate Justice’ Program
FIRST ON THE DAILY SIGNAL—President Donald Trump’s Department of Transportation is moving away from the Biden administration’s climate justice initiative, which made it harder and pricier to build buses. Joe Biden’s transportation secretary, Pete Buttigieg, forced grant recipients of a $1.5 billion Federal Transit Administration grant program to build buses in accordance with low or… -
news
CHARLIE KIRK: Gen Z and the Economy Need Trump
It used to be “work hard, enjoy later,” but now it’s “enjoy now, pay later,” says Turning Point USA founder Charlie Kirk. In a recent interview with Tucker Carlson, Kirk sheds light on a decades-long economic crisis in America that’s crushing the American dream for young people. Kirk warns that if America’s leaders fail to… -
opinion
Washington Bureaucrats Are Destroying Small Business Dreams
Countless Americans see the United States as the land of opportunity. This belief is vividly demonstrated through the relentless pursuit of the American dream. According to the Small Business Administration, there are over 30 million small businesses across America. For each one of the individuals behind these businesses, opportunity is not just an ideal, it… -
opinion
LA’s Olympic-Sized Proposed Minimum Wage Hike Will Cost Jobs. Just Look at What California’s $20 Minimum Wage Has Done.
In a classic case of central planning, lawmakers in Los Angeles passed a bill in May to bring the minimum wage for hotel and airport workers to $30 by 2028, while also imposing a new $8.25 per hour mandatory health care contribution. Implementation of that bill is currently on hold as the city clerk reviews… -
opinion
First US Rare Earth Minerals Mine in 70 Years Will Lessen Dependence on China
Last week on the Senate floor, I hailed the opening in Sheridan, Wyoming, of the Brook Mine—the first rare earth elements mine to break ground in the U.S. in 70 years. Secretary of Energy Chris Wright recently joined me in Sheridan for its opening and deemed it a “landmark moment” for America’s energy independence. Here’s… -
opinion
State AG Charges Shareholder Vote Advisors With Pushing ‘Radical Left-Wing Agenda’ on US Companies
Missouri Attorney General Andrew Bailey filed lawsuits last week against Glass Lewis and Institutional Shareholder Services, two shareholder voting advisory firms that together hold a virtual duopoly in that market. These firms advise institutional shareholders—typically asset and pension managers—how they should vote on corporate issues. These fund managers are in turn voting as proxies on behalf… -
opinion
Trump Will Fight Back Against the Big Bank Woke Agenda
President Donald Trump’s election victory was a wake-up call for many reasons. From the madness at the southern border to out-of-control inflation, Americans made it abundantly clear they were ready for a stop to the country’s downward spiral. Now the president is planning to do the same to the banking industry, restoring sanity to… -
news
Freedom Caucus Prevails on Measure to Block Central Bank Digital Currency
After slowing down the Republican leadership’s attempt to advance a bundle of cryptocurrency market reform bills, the conservative House Freedom Caucus and its allies appear to have secured a promise to prohibit the Federal Reserve from issuing a digital U.S. dollar. Caucus members contend that’s a victory for Americans’ freedoms. The deal allowed for House…